Aptos launches a new privacy coin, Confidential APT, anchored 1:1 with APT

ME News, April 29 (UTC+8): Aptos launched a new privacy coin, “Confidential APT.” The token is pegged 1:1 with APT. It uses zero-knowledge proofs to conceal balances and transfer amounts while preserving transaction verifiability. Previously, a governance proposal was approved by nearly unanimous vote for this privacy feature. Sherry Xiao, a founding engineer at Aptos Labs, said the privacy coin can prevent companies from having their on-chain transactions tracked by competitors, including the movements of the treasury and transaction strategies. It also addresses the issue of employee payroll being permanently visible on-chain, while reducing the risk of users being profiled by wallets or targeted by scams. Confidential APT can satisfy KYC and anti-money laundering compliance requirements for investigations or subpoenas through an audit key. The audit key must be enabled only after being authorized by an on-chain governance vote. It allows only relevant parties to view amounts during investigations, and user privacy remains protected by default. Unlike Monero, the address and the transaction verification process for this privacy coin are publicly visible. (Source: PANews)